Aesthetic Lasers Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Aesthetic Lasers Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The aesthetic lasers market is projected to grow at a CAGR of 7.5% over the forecast period (2022-2027).

The world economy and healthcare system were both negatively impacted by the COVID-19 pandemic's rise. Since hospitals and healthcare facilities were severely cut back as a result of social segregation policies enforced by governments all over the world, the COVID-19 pandemic had an impact on the market for aesthetic lasers. The COVID-19 pandemic also had a profound impact on how general hospital treatment for patients without the virus was delivered globally. In October 2020, an article titled "Data-Driven Insights on the Effects of COVID-19 on Public Interest in Medical Aesthetics: Part II (Active Analysis)" appeared in the Aesthetic Surgery Journal. It revealed that while searches for aesthetic interventions initially decreased, these searches have since increased and are most likely to do so as the pandemic comes to an end. This is expected to aid in the market's expansion throughout the course of the projection.

Another study that was released in the Journal of Dermatologic Therapy in October 2020 focused on the COVID-19 pandemic and the shifting paradigm of aesthetic practise. According to the article, infection control, cleaning techniques, and personal protective equipment were required to reduce the possibility of viral transmission and guarantee safe clinical environments for oneself, the staff, and the patients. Therefore, the use of such standards might limit the anticipated growth of the market for aesthetic lasers. Additionally, more individuals are anticipated to visit hospitals over time as a result of the widespread immunization program around the world, which is anticipated to push the market back toward its development potential during the projected timeframe.

The aesthetic laser market is driven by increasing demand for non-invasive aesthetic procedures, growing technological advancements, changing lifestyles, and growing disposable income. Due to its minimum invasiveness and improvements in product technology, skin tightening techniques are being used more frequently after rapid weight loss or bariatric surgery. According to the CIA's The World Factbook 2020, Saint Pierre and Miquelon, Japan, Morocco, and Saint Pierre and Miquelon have the highest median ages. Thus, increasing aging population is expected to adopt the asthetic procedures which is likely to increase the market growth. In laser skin resurfacing, various lasers, including CO2 lasers, erbium lasers, pulsed-dye lasers, and fractional lasers, are tuned for various skin conditions and skin types. When doing a laser skin resurfacing procedure, a CO2 laser is typically utilized to essentially remove damaged surface skin from the entire face. In April 2021, in order to forecast what 2021 will bring, the American Society of Plastic Surgeons (ASPS) published the 2020 results of the organization's annual procedure survey along with national consumer research that reflected trends throughout the COVID-19 era. The report stated that 35% of women who have previously undergone at least one cosmetic surgery or minimally invasive procedure anticipate spending much more on treatments in 2021 than they did in 2020. The processes are anticipated to resume their normal course with the rise in vaccines and the relaxing of social isolation rules.

Various studies have been publsihed to provide the insight about the prevalence of dieases. For instance, according to the Global Burden of Disease Study 2019, there were 117.4 million incident cases of acne vulgaris in 2019. This represents an increase of roughly 48% from 1990, according to the article "Magnitude and temporal trend of acne vulgaris burden in 204 countries and territories from 1990 to 2019: an analysis from the Global Burden of Disease Study 2019." Product launches are another factor in market growth. For instance, in January 2020, The LightSheer Quattro, the newest platform from Lumenis, was released. The device provides pigmented and vascular lesions therapy together with clinically validated laser hair removal treatments for all skin types using either 805nm or 1060nm wavelengths with no downtime. Similarly, product approval is another factor in market growth. For instance, in May 2020, for its revolutionary Accure Laser system to treat patients with moderate acne vulgaris, Accure Acne, Inc. has been granted the European CE certification. The Accure Laser is the only light-based platform ever developed for a commercial market that can specifically target and harm sebaceous glands, the primary source of sebum production and the key to a long-lasting acne treatment. Thus, the abovementioned factors are expected to hinder the market growth.

However, the social stigma associated with cosmetic treatments and the high cost of the procedures is expected to hinder the market growth.

Laser hair removal is one of the highly popular aesthetic procedures. For the treatment of various skin problems and the removal of unwanted hair, dermatologists routinely use intense pulsed light (IPL) and laser devices. While alexandrite and diode lasers are widely employed, neodymium-doped yttrium aluminum garnet (Nd: YAG) has the lowest overall hair eradication efficiency. However, due to the greater wavelength, Nd: YAG is frequently utilized for skin that is pigmented. According to a survey by the American Society of Plastic Surgeons, 757,808 laser hair removal procedures were carried out in United States in 2020. In United States, the average surgeon or physician charges roughly USD 389 for laser hair removal, according to the survey. In 2020, United States spent a total of USD 294,497,562 on laser hair removal procedures.

Initiatives by the key market players such as product launches are expected to increase the market growth. For instance, in June 2020, in United States, Europe, and Australia, Cynosure, Inc. introduced the Elite iQ platform, the Elite+ Aesthetic Workstation's latest iteration, which enables faster treatments with higher maximum energy compared to earlier devices. For all skin types, the Elite iQ platform uses Skintel, the only live melanin reader in the aesthetics business, to provide tailored laser hair removal treatments and permanently decrease unwanted hair. Similarly, in March 2020, Lumenis introduced Stellar M22, a powerful multi-application platform for over 30 skin conditions and hair removal. Thus, such product launches are expected to increase the market growth.

Hence, owing to the aforementioned factors, the hair removal segment is expected to grow significantly during the forecast period.

North America is expected to hold a significant share in the aesthetic lasers market. Growth is attributed to the presence of key market players and the increasing number of aesthetic laser procedures, coupled with the high adoption of minimally invasive devices, in the region. For example, as per the survey of the International Society of Aesthetic Plastic Surgery, the overall number of aesthetic or cosmetic treatments increased from 2019 to 2020 by 7.4%. According to the study around 4.67 million cosmetic treatments were carried out in United States in 2020. 3.18 million of these were minimally invasive operations, while 1.49 million were aesthetic surgical procedures. According to the American Society of Plastic Surgeons' 2020 Plastic Surgery Statistics Report, 15.6 million cosmetic treatments and 6.8 million reconstructive procedures were carried out in the country in 2020.

Furthermore, owing to the increasing demand, market players are focusing on new product developments and launches to expand their market share in the country. For instance, Alma Lasers introduced Alma PrimeX in April 2021, the top non-invasive platform for skin tightening and body reshaping. Similarly, in July 2019, Cynosure has lunched two new products that expand the Company’s growing portfolio TempSure Firm handpiece and a petite mask for SculpSure submental treatments. The TempSure Firm handpiece is the latest addition to the TempSure platform. It delivers monopolar radiofrequency energy through unique massage heads to gently heat tissue. Hence, the market for aesthetic lasers in region is projected to have significant market growth over forecast period.​

The aesthetic lasers market is moderately competitive and is expected to be dominated by some major palyers. Some of the major players in the global aesthetic lasers market are Alma Lasers, Candela Medical, Cutera, Cynosure, IRIDEX Corp., Jeisys Corporation, Lumenis, Sciton, Inc., etc. Aesthetic Lasers have revolutionized the beauty industry, providing significant results with minimal invasiveness.

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